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Update 4 – Brazil still ready build Grassroots refinery w/out VZ aid/ crude

Home Forums Coking News: DCU, Upgrader 3.Upgrader (registered users only) Update 3 – Petrobras Pernambuco Refinery-PDVSA Upgrader JV Update 4 – Brazil still ready build Grassroots refinery w/out VZ aid/ crude

#6318

Charles Randall
Participant

Here is update on the New Brazil Grassroots Brazil Northern refinery that was to be PDVSA jv and use 50% crude from a new PDVSA upgrader …… Petrobras has said all along they were ready to go this along & have not stood for any usual Venezuelan corruption (payoffs for deals to proceed) or government foot dragging. More so since the additional Brazil new Tupris crude field discoveries.
 
Not stated but assume Chavez/PDVSA are having hard time adjusting to new world prices in the $35-60/Bbl range since they need $80-90/Bbl to keep funding government programs (just like Russia & Iran) – even without all checkbook diplomacy project funding.
 
Think Brazil is going to be welcome relief on crude supply to US & World crude import markets.
Regards

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